Strs Ohio Trims Position in Gladstone Land Co. (NASDAQ:LAND)

Strs Ohio cut its position in Gladstone Land Co. (NASDAQ:LAND – Get Rating) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,015 shares of the real estate investment trust’s stock after selling 8,708 shares during the period. Strs Ohio owned about 0.10% of Gladstone Land worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank purchased a new stake in shares of Gladstone Land in the first quarter worth $166,000. WESPAC Advisors LLC boosted its position in shares of Gladstone Land by 61.4% during the second quarter. WESPAC Advisors LLC now owns 70,984 shares of the real estate investment trust’s stock worth $1,573,000 after acquiring an additional 27,003 shares during the last quarter. Lincoln National Corp boosted its position in shares of Gladstone Land by 25.5% during the second quarter. Lincoln National Corp now owns 69,903 shares of the real estate investment trust’s stock worth $1,549,000 after acquiring an additional 14,207 shares during the last quarter. Garrison Point Advisors LLC boosted its position in shares of Gladstone Land by 2.2% during the second quarter. Garrison Point Advisors LLC now owns 22,946 shares of the real estate investment trust’s stock worth $508,000 after acquiring an additional 491 shares during the last quarter. Finally, Capital Square LLC boosted its position in shares of Gladstone Land by 24.1% during the second quarter. Capital Square LLC now owns 16,607 shares of the real estate investment trust’s stock worth $368,000 after acquiring an additional 3,222 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on LAND. EF Hutton Acquisition Co. I lowered their price objective on shares of Gladstone Land from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, December 5th. StockNews.com began coverage on shares of Gladstone Land in a research report on Wednesday, October 12th. They set a “sell” rating for the company.

Gladstone Land Trading Up 0.9 %

Shares of LAND opened at $20.10 on Wednesday. Gladstone Land Co. has a twelve month low of $17.28 and a twelve month high of $42.10. The company has a market cap of $697.55 million, a P/E ratio of -60.91, a P/E/G ratio of 4.16 and a beta of 0.98. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The company’s fifty day simple moving average is $19.61 and its 200-day simple moving average is $21.27.

Gladstone Land Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a $0.0459 dividend. This represents a $0.55 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 16th. Gladstone Land’s dividend payout ratio is currently -166.66%.

Gladstone Land Company Profile

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Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion.